Saxo Bank brokerage company was founded in 1992 and was initially called Midas. In 2001, the broker received a license from the Danish financial regulator FSA — Danish Financial Supervisory Authority. After that, the company changed its name to Saxo Bank. 

Today the broker provides online access to various financial markets to clients from 170 countries worldwide. In 2017, according to the FX Week e-FX Awards and ADVFN International Financial Awards, the SaxoTraderGO terminal was recognized as the best trading platform for active trading. 

How to start trading with a Saxo Bank broker?

How to start trading with a Saxo Bank broker?

Step 1. Go to the official web portal

Step 2. Fill the form with all the needed information. Indicate the name, surname, email address, country, phone number, and a strong password.

Step 3. Complete the registration. Provide personal information and upload documents confirming your identity and place of residence.

Step 4. Select the account currency from the drop-down list. After that, go through authorization via your phone number.

Step 5. After funding your account, you can start trading. 

You can enter your personal account through the main page of the Internet portal by entering your username and password in the empty fields. 

Customer support at Saxo Bank broker

Customer support at Saxo Bank broker

SaxoBank created the customer service department to help and facilitate users on the trading platform. Technical support operators are ready to answer any questions around the clock from Monday to Friday. 

You can contact the specialists in the following ways: 

Also in the Saxo Support Center section, there is a form for contacting a consultant. To do this, enter the question of interest in the appropriate field. 

Year of foundation 

The company appeared on the financial market in 1992. 


The Saxo Bank dealing center is licensed № 1149 by the financial regulator DFSA. In addition, the company is a member of the Danish Guarantee Fund for Investors and Depositors. 

  • Saxo Capital Markets UK Limited is authorized and regulated by the Financial Conduct Authority (license № 551422).
  • In the Netherlands (registration № 34357130).
  • The office is permitted and regulated in Italy by the Italian Market Authority (registration № 296).
  • In the Czech Republic, SaxoBank A/S is registered by the Czech National Bank (registration № 28949587).
  • The broker is licensed by the Australian Securities and Investment Commission (ASIC).

Broker’s awards

Broker’s awards

The company has over 30 awards from 2016. Here are some of the last:

  • Best Forex Broker 2021
  • Best Banks Awards 2020
  • Best CFD Broker and Best DMA Broker 2020
  • Best prime-of-prime provider 2020
  • Best retail FX broker: 2019

Key broker features 

Broker strives to provide its clients with a wide range of passive investment services. The company offers to invest in ready-made portfolios, transferring funds to trust management to professional traders. North American and Asia Pacific customers can use algorithmic trading. Affiliate programs are available to every broker client, regardless of their country of residence. 

SaxoSelect managed investment portfolios 

These are expert-managed portfolios with various risk indicators — from low to ultra-high. Ready-made portfolios are designed for long-term investment over several years. 

  • The ability to choose a portfolio based on the optimal acceptable level of risk. 
  • Minimum investment from 10,000 euros. 
  • No freeze period: the investor can withdraw his money at any time without any additional cost. 
  • The presence of a service fee (0.5% per year) and commissions up to 20% in case of making a profit based on the results of the reporting period. 

To invest, a market participant needs to answer several questions in the trading platform. This is necessary to understand which trading strategies are right for him. After choosing a portfolio and making a minimum investment, trading occurs automatically. Experienced traders make their own decisions on behalf of the investor — without his direct participation. 


Saxo Bank - Fees
  • Trading fees

The broker does not charge any commission for withdrawing funds and replenishing trading accounts. The bank charges the withdrawal fee that services the credit cards or transfers. For all accounts, the broker charges a commission per lot (per USD 1 million traded) for $50. 

  • Spreads

The size of the spread depends on the type of account opened.

Account typeSpread/commissionWithdrawal fee
ClassicFrom 12 $+
PlatinumFrom 8 $+
VIPFrom $ 7+
ProfessionalFrom $ 7+

Market coverage

The broker boasts of offering more than 40,000 instruments to over 800k users for trading and investment opportunities. They access these markets with the help of a 24/5 client support team and state-of-the-art trading platforms. Each asset class comes with unique trading conditions, as we will explore in this section.


Saxo Bank - Forex
  • The FX holds 200 spot pairs and 135 forward forwards across majors, minors, exotics, and metals. 
  • Competitive spread and leverage placed at 1:30. 
  • The minimum spread depends on the FX pair. 
  • Clients trade and invest in these assets 24/5 and the broker also notes that orders execute at high speeds. 


Saxo Bank - CFDs
  • The broker provides a CFD market supporting more than 9,500 products. 
  • Clients can go long or short on these instruments fueled with tight spreads and low commissions. 
  • CFDs trading is spread across stocks, indices, FX, commodities, options, and bonds.


Saxo Bank - Commodities 
  • The broker allows clients to trade multiple commodity assets as CFDs, futures, options, spot pairs, and more. 
  • The pricing depends on the clients’ account tier, although the market traded with tight spreads and low commissions.


Saxo Bank - Futures
  • Clients have access to 300 futures instruments covering equity indices, energies, metals, agriculture, rates, and FX. 
  • The broker supports about 16 global exchanges for futures trading. 


Saxo Bank - Stocks
  • The stock market also trades 24/5 at Saxo Bank, allowing clients to speculate and invest in over 30,000 stock instruments across 60+ exchanges. 
  • Some of the exchanges include NYSE, LSE, NASDAQ, and many others. 
  • The rates and prices depend on the exchange that the client uses.


Saxo Bank - ETFs
  • Access to more than 5,500 ETFs.
  • 30+ exchanges.
  • The market traded 24/5 with competitive pricing and margins.
  • Commissions depend on the client’s account tier and instrument traded.


Saxo Bank - Bonds
  • Corporate bonds from 26 countries against 21 currencies.
  • About 5000 bonds trade with a commission rate starting at 0.20% that shaves down to stabilize at 0.05%. 
  • The broker grants direct access to tier-1 liquidity, allowing clients to trade these products with the best available spreads.


Saxo Bank - Cryptocurrencies
  • Some of the crypto assets available include BTC, ETH, LTC, etc. 

Trading platforms 

Saxo Bank - Trading platforms 

The broker’s peculiarity is that it does not use classic trading and information terminals like MetaTrader. It provides its clients with the innovative platforms SaxoTrader and SaxoTraderGo. They differ in their set of functionality and tools.


Saxo Bank - SaxoTraderPro

This is software that runs in desktop mode. It can be used to trade financial assets, compare charts and analyze the market situation using financial news and an economic calendar.

The main features of the platform:

  • Algorithmic orders
  • One-click trading
  • Options chains
  • Charting packages
  • Six working screens and their full customization
  • Ability to obtain unique market information
  • Trading tools 


Saxo Bank - SaxoTraderGo 

Software for mobile devices with Android and iOS operating systems.

Among its main advantages are:

  • Enhanced trade tickets
  • Fundamental and technical analysis tools
  • Extensive charting package
  • Options chain
  • Intuitive and user-friendly interface
  • Execution of orders
  • Accessibility to any web browser (mobile and desktop)
  • Push notifications

Trading accounts

Saxo Bank - Trading accounts

Classic account

  • Tight entry prices
  • Min. initial funding $2,000
  • Best-in-class digital service and support
  • 24/5 technical and account support

Platinum account

  • Access even tighter spreads and commissions
  • Minimum initial funding $200,000
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority local-language customer support

VIP account

Saxo Bank - VIP account
  • Access the best prices
  • Min. initial funding $1,000,000
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Local-language personal relationship manager
  • Direct access to our trading experts, 24/5
  • 1:1 SaxoStrats access
  • Exclusive event invitations

What else should you know about Saxo Bank?

You can find many customer reviews on the internet that create a somewhat contradictory opinion about the broker’s activities. For example, traders claim that the broker is engaged in fraud. Unfortunately, most of the comments are critical. In particular, it provides quotes with a significant delay. 

In addition, users point to difficulties registering an account, requiring a vast number of documents. On average, it takes two weeks to several months to verify personal data by moderators. 

On the other hand, there is also a positive side. Traders note a large selection of attractive financial assets and a high trading efficiency.